The Central Bank of Brazil (BCB) has reported that PIX, the country's instant payment system, has broken its previous record by processing over 227 million transactions in a single day. This surge in transactions highlights the growing popularity and convenience of PIX, which has become a preferred payment method for Brazilians.

PIX was launched in November 2020 and has quickly gained widespread adoption due to its ease of use and real-time settlement. The system allows users to make instant payments and transfers using only a mobile phone number or QR code. PIX is also widely accepted by businesses and merchants, making it a versatile payment option for both personal and commercial transactions.

The BCB attributes the recent surge in PIX transactions to the increasing use of the system for online shopping, bill payments, and other digital transactions. The bank also notes that the growth in PIX usage is in line with the overall trend towards digital payments in Brazil, as consumers seek more convenient and secure ways to manage their finances.